Marketing Plan a Local Company Selling Technology Essay
- Length: 7 pages
- Sources: 6
- Subject: Business
- Type: Essay
- Paper: #57491246
Excerpt from Essay :
marketing plan a local company selling technology items ( mobile phones accessoeries, laptops, i-pads, electronic games . Be describe target market, set objectives include elements a marketing plan, marketing strategy, market segmentation, market positioning.
Mobile Phones Company Marketing Plan
The following pages focus on providing a marketing plan for a local company specialized in commercializing technology items, like mobile phones and accessories, laptops, I-pads, electronic games, and other products used in the telecommunications industry. There are several aspects of great importance that are addressed by this marketing plan. These aspects are represented by the marketing strategy, market segmentation and positioning, marketing mix, and the promotional mix.
This is a small company focusing on the local market. The company is specialized in products supporting mobile data communications, like mobile phones and accessories, laptops, I-pads, electronic games, and others. The reason behind selecting this market segment is represented by the increased interest of customers in such products and services and by the potential of this segment. The company addresses several customer segments of great importance to its sales volume.
The most important customer segment is represented by young individuals aged 25 to 35. These customers are represented by young professionals that are career oriented, but that want to keep in touch with the social aspects of their lives also. Such customers are interested in technological developments and are up-to-date with new products developed in the telecommunications sector (UNCTAD, 2003). Therefore, it is important that they purchase high quality telecommunications products. These customers have medium to high education and an orientation towards technological devices. They also have medium to high incomes that allow them to make the necessary investments in technology. They have a busy life and they enjoy spending time on social networks like Facebook and MySpace. This is because they meet new people and contact their friends, family, and acquaintances through these social platforms. Therefore, they require access to the Internet even when they are not at home or at the office. In order to satisfy their needs in such cases, they orient towards mobile phones, laptops, and i-pads that allow them to access the Internet.
The secondary customer segment for the company is represented by individuals aged 35 to 45. These customers are career oriented, and their job occupies a great part of their life and they need to improve the organization level of their activities in order to maintain a balance between their professional, family, and social life. Therefore, they must perform certain activities while not being at the office or at home. They must search the Internet, share files, and send emails. Therefore, they must be supported by the necessary communications devices. These customers are educated and have medium to high incomes (Sinha, 2011).
The company is also orienting towards another customer segment represented by young individuals aged between 18 and 25. These customers are technology oriented, are interested in purchasing and using technological developments, and spend a lot of time on social networks. They access these social networks at school, on the street, or when going out. Therefore, they require mobile phones or laptops that allow them to use the Internet (Perez, 2010).
There are several reasons that can be identified when discussing individuals' purchasing behavior regarding telecommunications products and accessories. Most people purchase them because of real necessity. In other words, they really need these products for communication and for the facilities they provide. Other people are simply interested in gadgets and are oriented towards purchasing products characterized by technological developments. There are also situations where people purchase certain mobile phones, laptops and other similar products in order to reveal their social status. This is because some of these products are quite expensive, and their owners are making a statement by showing them to other people. The company understands these motivators that determine people to purchase such products and is able to develop strategies that can be used in increasing the number of customers.
Knowledge -- the company has great knowledge and information on the local market, which allows it to improve its customer base and relationships with customers and business partners. In addition to this, the company has focused on employing specialists in telecommunications in order to improve the acquisition process. This helps the company purchase the brands that customers are interested in and those that provide the best balance between quality and price.
Relationships with business partners -- the company understands the importance of stakeholders and is interested in improving the management of these relationships. As a consequence, the company's managers focus on the relationship with suppliers. Therefore, instead of working with a reduced number of larger suppliers, the company prefers to work with a larger number of smaller suppliers. This allows the company to reduce its dependence on suppliers and to improve relationships with them (Ecklund, 2010).
Quality of products -- the company is interested in providing high quality products. This is because in a field like telecommunications, it is important to focus on quality products in order to improve the loyalty of customers.
Price of products -- the quality of products commercialized by the company determines their high price. In addition to this, the pricing strategy does not depend entirely to the company, as there are also other factors that must be taken into consideration. These factors are represented by producers and by competitors and their prices. The price of these products is an important factor affecting customers' purchasing decision.
Marketing budget -- the company cannot afford to make significant investments in advertising in comparison with larger companies. In addition to this, the size of the company affects its possibility of expanding its activity. Therefore, the company must develop strategies that help reach its objectives.
The Internet -- this is probably the most important opportunity that the company can exploit. Its importance relies on the numerous advantages it provides to companies that are able to develop strategies in addressing the Internet. The company has developed an online store in addition to its traditional stores. Online stores provide advantages for both the company and its customers. In this case, maintenance costs of the store are significantly reduced. By developing an online store, the company can reach a larger number of customers and it can expand its coverage. In addition to this, the online store allows to expand the range of products provided to customers because there is no need to display them in traditional shelves. It is also more comfortable for customers to address an online store. This helps them save a lot of time and to increase the number of products they can visualize. In addition to this, they can compare prices between different stores, and they can have the products delivered to the address they want.
Service -- the company is interested in providing high quality services to its customers. Therefore, customers that require assistance for the products they purchase from the company can rely on its services. This is an important opportunity, because many of the company's competitors prefer not to provide services because of the high costs they determine. Therefore, it is important that the company provides products and services that are not addressed by competitors.
Competition -- this is an important factor that must be taken into consideration by the company when developing its strategy. Therefore, it is recommended that the company analyzes the strategy developed by other companies in the telecommunications sector. The pricing strategy must be established in accordance with the price range of other companies that provide similar products and services. Also, it is difficult for a small company to compete with large store chains that have the financial possibility to make significant price reductions.
The mission that the company focuses on is represented by providing high quality hardware, software, and support to its customers, while developing an organizational culture that supports the development of employees and that also supports the environment. The values that the company is committed to sustain are represented by honesty, trust, and integrity. In order to reach these objectives, the company relies on the performance of employees.
The company's marketing strategy is oriented towards reaching the following objectives:
Increase sales volume
Improve customer loyalty
These objectives can be reached by developing a marketing strategy that requires smaller investments. Therefore, the sales volume can be increased by increasing the number of customers. This can be achieved by developing an online store that allows the company to address a larger number of customers. The Internet provides great opportunities for smaller companies that want to expand their business.
The increased sales volume can determine higher level of profits. This can be achieved by reducing operating costs. In addition to this, it is important to increase the efficiency of supply chain management in order to reduce a series of costs associated with these activities. The costs that can be reduced by increasing the efficiency of…